Today’s Lowest FHA Mortgage Rates – Bank of America, Chase, RBC and Citibank Interest Rate Offers This Week
Posted on | May 24, 2010 | Comments Off
Today’s lowest FHA mortgage ratesHave been quoted at levels well below 5% for many borrowers. At the present time Bank of America, Chase, RBC and Citibank are all offering low interest rates this week in May of 2010. Most mortgage lenders reporting that FHA mortgage rates are coming in very close to conventional mortgage rates.
Over the last several months lenders continue to report that FHA rates are very close to the rates of conventional mortgages. It is very important to understand that an FHA mortgage has insurance obligations. It is sometimes wise to take a slightly higher conventional mortgage rate as you can avoid the insurance costs.
There many mortgage calculators available online to help you determine if an FHA mortgage is right for you. Please understand that the insurance obligations will differ based on your financial situation. It is best to call your mortgage lender and understand what insurance obligations you must pay.
While Bank of America, Chase, RBC and Citibank are some of the larger mortgage lenders in the country it is important to understand that there are many options available. It may be wise to contact mortgage lenders in your area to help get a low FHA mortgage rate.
Author: Jeremy North
Tags: bank of america fha > chase fha > citibank fha > fha rates > lowest fha mortgage rates > mortgage interest rates > rbc fha > today's lowest rates